Chefs’ Warehouse (NASDAQ:CHEF) Reaches New 52-Week High – Here’s Why

The Chefs’ Warehouse, Inc. (NASDAQ:CHEF) reached a new 52-week high during trading on Wednesday . The company traded as high as $69.75 and last traded at $68.47, with a volume of 294014 shares trading hands. The stock had previously closed at $68.44.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating on shares of Chefs’ Warehouse in a research report on Thursday, February 12th. Wolfe Research set a $84.00 price objective on Chefs’ Warehouse in a report on Thursday, February 12th. UBS Group increased their target price on Chefs’ Warehouse from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Morgan Stanley assumed coverage on Chefs’ Warehouse in a report on Monday, October 27th. They issued an “overweight” rating and a $75.00 price target for the company. Finally, Zacks Research lowered Chefs’ Warehouse from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $77.67.

Chefs’ Warehouse Price Performance

The company has a debt-to-equity ratio of 1.19, a current ratio of 2.05 and a quick ratio of 1.23. The company has a fifty day moving average price of $63.65 and a 200 day moving average price of $61.99. The company has a market capitalization of $2.79 billion, a P/E ratio of 41.50 and a beta of 1.30.

Chefs’ Warehouse (NASDAQ:CHEF) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.06. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.10 billion. Chefs’ Warehouse had a return on equity of 14.75% and a net margin of 1.74%.The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. On average, sell-side analysts forecast that The Chefs’ Warehouse, Inc. will post 1.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in shares of Chefs’ Warehouse by 229.5% in the fourth quarter. Hantz Financial Services Inc. now owns 458 shares of the company’s stock valued at $29,000 after purchasing an additional 319 shares during the period. Global Retirement Partners LLC acquired a new stake in Chefs’ Warehouse in the 4th quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd raised its stake in Chefs’ Warehouse by 515.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 523 shares of the company’s stock valued at $31,000 after acquiring an additional 438 shares in the last quarter. Center for Financial Planning Inc. acquired a new position in Chefs’ Warehouse during the 2nd quarter worth $35,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Chefs’ Warehouse in the third quarter worth $39,000. 91.55% of the stock is owned by institutional investors and hedge funds.

About Chefs’ Warehouse

Chefs’ Warehouse, Inc is a specialty food distributor that supplies a broad range of high‐end ingredients and culinary products to professional chefs, restaurants, hotels, and other foodservice operators. Headquartered in Maspeth, New York, the company sources its portfolio from local artisans, boutique producers and leading global suppliers. Its core offerings include fresh and frozen proteins, specialty cuts of meat and seafood, handcrafted cheeses and charcuterie, seasonal produce, value‐added preparations, pantry staples and premium desserts and beverages.

The company operates a network of distribution centers strategically located in major metropolitan markets across North America.